European Central Bank (ECB) President Christine Lagarde, a prominent critic of cryptocurrencies, recently disclosed that her own family experienced the unpredictable nature of digital assets.
European Central Bank (ECB) President Christine Lagarde, a prominent critic of cryptocurrencies, recently disclosed that her own family experienced the unpredictable nature of digital assets. During a town hall meeting in Frankfurt, Lagarde revealed that her son, in his thirties, disregarded her advice and invested in crypto, resulting in substantial financial losses.
Lagarde expressed her disappointment, acknowledging that her son had chosen to ignore her guidance and "lost nearly all the money he had invested." She had previously discussed her son's involvement in the crypto market, highlighting her unsuccessful attempts to dissuade him from participating. While Lagarde has two sons in their mid-thirties, she did not specify which one was the crypto investor.
Lagarde previously asserted that these assets hold no value and lack a solid foundation. Lagarde firmly rejects the notion of central banks holding Bitcoin, deeming it entirely implausible.
While Lagarde criticizes decentralized digital assets, she actively promotes the concept of central bank digital currencies (CBDCs). As the head of the ECB, she has been instrumental in advancing the development of a digital euro, although the final decision on its adoption is still pending. CBDCs, including the proposed digital euro, are electronic representations of fiat currencies that facilitate peer-to-peer transactions without the involvement of traditional banking intermediaries.
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